What is the first thing I need to know concerning purchase conveyancing in Soham?
Not many law firms or advisers will tell you this but conveyancing in Soham or throughout England and Wales is an adversarial process. In other words, when it comes to conveyancing there exists an abundance of opportunity for conflict between you and others involved in the ownership transfer. For instance, the vendor, estate agent and on occasion your lender. Selecting a lawyer for your conveyancing in Soham should not be taken lightly as your conveyancer is your adviser, and is the ONLY person in the legal process whose role it is to protect your best interests and to keep you safe.
We are witnessing a distinct ongoing adversarial element to conveyancing- someone has to be blamed for the process being so protracted. We recommend that you must always trust your lawyer ahead of the other players when it comes to the legal assignment of property.
My husband and I are hoping to buy a newbuild apartment in Soham with a loan from Bank of Scotland.We use our Soham conveyancing solicitor but Bank of Scotland advised that he's not on their approved list of member firms. It seems we have no choice but to instruct a Bank of Scotland panel firm or keep our preferred solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; Can we not simply insist that Bank of Scotland use our lawyer?
Unfortunately,no. The mortgage issued to you is subject to its terms and conditions, one of which will be that lawyers will be on the Bank of Scotland approved list. in the past, most banks had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Bank of Scotland
I have paid off my mortgage with Coventry BS. I assume I don't need a Soham conveyancer on the Coventry BS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
About to purchase apartment in Soham. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the HSBC conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Soham conveyancing practitioner is on the HSBC conveyancing panel.
Bank of Ireland have agreed my mortgage in principle, my offer on a property in Soham has been agreed to, what are the next steps?
The property agent will need to be advised as to your property lawyer's details (ensure that the property lawyers are on the bank’s panel). Call up Bank of Ireland or the financial adviser and complete any appropriate documentation. Bank of Ireland will sellect a valuer who will get in touch with the selling agent or owners to arrange an appointment. Once carried out (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. Bank of Ireland will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Soham.
I have a terraced Edwardian house in Soham. Conveyancing practitioner acted for me and Coventry Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold with the exact same address. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Soham and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with your conveyancing solicitor who carried out the work.
Back In 2007, I bought a leasehold house in Soham. Conveyancing and Barclays mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Soham who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Soham conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Leasehold Conveyancing in Soham - Sample of Queries before buying
Most Soham leasehold flats will incur a service charge for the upkeep of the block levied on behalf of the freeholder. Where you buy the apartment you will have to meet this liability, normally periodically during the year. This may be anything from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a rentcharge for you to pay annual, normally this is not a significant amount, say approximately £25-£75 but you need to enquire as sometimes it could be prohibitively expensive. How many of the leaseholders are in arrears for their service charge payments? How much is the ground rent and service charge?